Assetmark Inc. increased its holdings in shares of Blackstone Inc. (NYSE:BX - Free Report) by 23.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 60,182 shares of the asset manager's stock after purchasing an additional 11,441 shares during the period. Assetmark Inc.'s holdings in Blackstone were worth $9,216,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of BX. West Financial Advisors LLC acquired a new stake in Blackstone during the 3rd quarter valued at $27,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Blackstone during the 2nd quarter worth about $26,000. EdgeRock Capital LLC bought a new position in Blackstone in the 2nd quarter valued at about $27,000. Bank & Trust Co acquired a new position in shares of Blackstone in the second quarter valued at approximately $29,000. Finally, Ridgewood Investments LLC bought a new stake in Blackstone in the 2nd quarter valued at $31,000. Institutional investors own 70.00% of the company's stock.
Several equities analysts recently commented on the stock. Cowen restated a "hold" rating on shares of Blackstone in a research note on Friday, October 18th. TD Cowen lifted their price target on shares of Blackstone from $133.00 to $149.00 and gave the company a "hold" rating in a research report on Friday, October 18th. Evercore ISI raised their price objective on Blackstone from $148.00 to $155.00 and gave the stock an "outperform" rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their target price on Blackstone from $145.00 to $146.00 and gave the stock a "buy" rating in a report on Thursday, August 15th. Finally, Barclays upped their price objective on shares of Blackstone from $155.00 to $174.00 and gave the stock an "equal weight" rating in a research report on Friday, October 18th. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Blackstone presently has an average rating of "Hold" and a consensus target price of $155.38.
Get Our Latest Stock Analysis on BX
BX stock opened at $177.46 on Monday. Blackstone Inc. has a 1-year low of $96.15 and a 1-year high of $178.63. The company has a current ratio of 0.71, a quick ratio of 0.77 and a debt-to-equity ratio of 0.58. The stock has a 50-day moving average price of $157.11 and a 200-day moving average price of $138.08. The firm has a market cap of $128.13 billion, a PE ratio of 60.98, a price-to-earnings-growth ratio of 1.51 and a beta of 1.49.
Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, October 17th. The asset manager reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.91 by $0.10. The firm had revenue of $2.43 billion for the quarter, compared to analysts' expectations of $2.37 billion. Blackstone had a return on equity of 17.53% and a net margin of 19.46%. As a group, equities research analysts expect that Blackstone Inc. will post 4.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Monday, October 28th were issued a dividend of $0.86 per share. This is an increase from Blackstone's previous quarterly dividend of $0.82. The ex-dividend date was Monday, October 28th. This represents a $3.44 annualized dividend and a dividend yield of 1.94%. Blackstone's payout ratio is currently 118.21%.
In other news, insider John G. Finley sold 42,249 shares of Blackstone stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the completion of the transaction, the insider now directly owns 387,137 shares in the company, valued at $68,112,883.78. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Joseph Baratta sold 116,448 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider John G. Finley sold 42,249 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the transaction, the insider now owns 387,137 shares in the company, valued at approximately $68,112,883.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.
Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.
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